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  1. 1) Who is Asteron Life Limited (Asteron Life)?

    Asteron Life provides a range of life, trauma, income protection, total and permanent disability, and business insurance cover in New Zealand. Its products are predominantly sold through financial advisers as well as via direct and group business partnerships. Asteron Life is known for its high level of care for customers and community, having won the ANZIIF Life Insurance Company of the Year award three times in the last five years. Asteron Life is part of the Acenda Group, owned by Nippon Life Insurance Company (Nippon Life). Asteron Life will be renamed Acenda Life in 2027, to align to our new company brand.

    Subject to the approval of the Reserve Bank of New Zealand (RBNZ) and other authorities, it is proposed that Asteron Life will become the insurer of your policy from 1 February 2027. This date is a best estimate only, and any changes to this date will be notified in advance at resolutionlife.co.nz/statutory-fund-restructure.

    Learn more about Asteron Life here: asteronlife.co.nz/about 

  2. 2) Who is the Acenda Group?

    The Acenda Group was formed in October 2025, following Nippon Life’s global acquisition of the Resolution Life Group. The Acenda Group comprises Acenda Life, Resolution Life Australasia Limited (Resolution Life Australasia) and Asteron Life, bringing together over 175 years of experience. It’s now one of the largest life insurance businesses in Australia and New Zealand, backed by the global strength of Nippon Life.  

    Learn more about the Acenda Group here: acenda.com.au/acenda-group  

  3. 3) Who is Nippon Life?

    Nippon Life is one of the world’s leading life insurance companies and the largest private asset owner in Japan. Founded in 1889, Nippon Life operates multiple life insurance and asset management businesses across the globe. Nippon Life has around 170,000 employees, 15 million customers, and over NZ$1 trillion in total assets.

    Since 1947, Nippon Life has operated as a mutual company, which means profits go to policyholders rather than shareholders. This reflects the company’s spirit of mutual aid and dedication to helping create a secure future for its customers.  

    Learn more about Nippon Life here: nissay.co.jp/global/  

Impacts on New Zealand customers of Resolution Life Australasia 

  1. 4) What does this change mean for Resolution Life Australasia customers in New Zealand?

    There are two stages to the proposed change. Stage 1 requires approval from the Reserve Bank of New Zealand (RBNZ) and Australian Prudential Regulation Authority (APRA), and Stage 2 requires approval from the RBNZ and other authorities.

    During Stage 1 of the process, nothing will change for Resolution Life Australasia customers in New Zealand regarding your existing policy, including its pricing or terms and conditions. Once Stage 2 of the process is complete, your cover will be issued by Asteron Life (part of the Acenda Group and owned by Nippon Life).  

    We want to assure you that your policy will continue to be managed by us with the same care and commitment you’ve come to expect from Resolution Life Australasia.  

  2. 5) Will this impact my policy?

    No, there’s no change to your policy or account, your cover or how you make a claim. You can also continue to contact us the same way you currently do.  

  3. 6) I have a claim in progress – what will happen to it? And how do I make a new claim?

    Any insurance claim you have made will continue to progress as usual, and any new claims can be made via the same processes you currently use. Rest assured, your policy terms have not changed, and neither have your rights to claim.  

  4. 7) Will my premium and payment methods remain the same?

    No, there’s no change to your policy or account, your cover or how you make a claim. You can also continue to contact us the same way you currently do.  

Split of Statutory Fund and transfer of NZ policies to Asteron Life

  1. 8) Why is Resolution Life Australasia’s Statutory Fund No. 1 being split?

    A statutory fund exists to protect policyholders by ensuring the funds and assets supporting their policies are used for paying policyholders. Currently, Resolution Life Australasia’s Statutory Fund No. 1 includes the funds of policyholders from both Australia and New Zealand.

    We are proposing a restructure that will effectively separate the Australian and New Zealand policyholders’ statutory funds. We’re doing this to remove unnecessary complexity within our business, allowing us to support policyholders as effectively as possible. The restructure requires the approval of the Reserve Bank of New Zealand (RBNZ) and Australian Prudential Regulation Authority (APRA). 

  2. 9) What is the process for splitting Resolution Life Australasia’s Statutory Fund No. 1?

    There are two stages to the process. In Stage 1, the funds and assets supporting New Zealand customers’ policies will be moved into a new fund (Statutory Fund No. 5), to keep them separate from the funds and assets attributable to Australian policyholders. Meanwhile, Australian policyholders’ funds will remain where they are (Statutory Fund No. 1), and under Resolution Life Australasia. Stage 1 is expected to occur on 1 October 2026. This date is a best estimate only, and any changes to this date will be notified in advance at resolutionlife.co.nz/statutory-fund-restructure.

    The second stage involves transferring Resolution Life Australasia’s New Zealand life insurance business, specifically the funds and assets of Statutory Fund No. 5 supporting NZ customers’ policies to Asteron Life. We expect this to occur on 1 February 2027. This date is also a best estimate only, and any changes to this date will also be notified in advance at resolutionlife.co.nz/statutory-fund-restructure.  

    Stage 1 requires approval from the Reserve Bank of New Zealand (RBNZ) and Australian Prudential Regulation Authority (APRA), and Stage 2 requires approval from the RBNZ and other authorities. 

  3. 10) When will my policy transfer to Asteron Life, and what does it mean for me?

    It is expected that (subject to approvals from RBNZ and other authorities) Asteron Life will become the insurer of your policy on 1 February 2027. This date is a best estimate only, and any changes to this date will be notified in advance at resolutionlife.co.nz/statutory-fund-restructure. This means any information held by Resolution Life Australasia about you and your policy will automatically transfer to Asteron Life. Asteron Life will assume all responsibilities for meeting the obligations under your policy, including paying any benefits you’re eligible for.  

    When Asteron Life becomes your insurer, you’ll receive detailed information about any changes to contact details or processes. For now, everything stays the same for New Zealand policyholders and there is nothing you need to do. 

  4. 11) Can I provide feedback? What will it be used for?

    Yes, you are welcome to provide feedback on the two proposed changes:

    • the creation of a dedicated statutory fund for New Zealand policyholders, and
    • the transfer of your policy to Asteron Life.  

    Simply contact us via any of the channels below:

    Please send any feedback by 31 August 2026. After this date, we will collate all customer feedback and send a summary to the RBNZ and APRA for their consideration prior to making a decision on the restructure proposal. 

  5. 12) Why is the Privacy Policy being updated?

    The change in ownership of Resolution Life Australasia requires us to share information with other companies within the Acenda Group as well as third parties. We need to update the Privacy Policy to reflect this. The updated Privacy Policy maintains Resolution Life Australasia’s current commitment to data privacy and security. Any personal information collected by Resolution Life Australasia or the Acenda Group, will be kept secure and will only be used for the purposes for which it is collected.  

  6. 13) What role does the Appointed Actuary have? 

    In New Zealand and Australia, all life insurance companies are legally required to have an Appointed Actuary. This is a highly qualified person appointed to provide impartial, objective advice to the Board and senior management on the financial management of the insurer. Advice may relate to pricing, managing financial risks, policy liabilities, and whether the company has enough capital. Importantly, the Appointed Actuary also provides advice to ensure that policyholders are treated fairly.

    The Appointed Actuary for Resolution Life Australasia has assessed the proposed transfer of New Zealand policies to Asteron Life. The Appointed Actuary is satisfied that policyholders will not be disadvantaged. This means that your contractual benefits and rights won’t change, your overall reasonable benefit expectations will continue to be met and will not be adversely affected, and the security of your benefits will remain adequate. A copy of the report can be found at RLA Limited Appointed Actuary Report.

    An Independent Actuary has also reviewed the proposed restructure. A copy of that report can be found at Independent Actuary Report.  

  7. 14) When will I hear more? Can I still contact you the way I usually do?

    We’ll continue to keep you informed about the upcoming changes.  

    In the meantime, you can continue to contact us through the same channels.  

Important information

The content of this website is for information only, it does not contain any financial advice or other professional advice or make any recommendations about a financial product or service being right for you. The information provided by Resolution Life Australasia Limited ABN 84 079 300 379, NZ Company No. 281363, AFSL No. 233671 (Resolution Life), is of a general nature and does not take into account your objectives, financial situation or needs. Before taking any action, you should always seek financial advice or other professional advice relevant to your objectives, financial situation and needs, as well as consider the policy document for the product. Any guarantee offered in the product is only provided by Resolution Life.

Resolution Life does not make any representation or warranty as to the accuracy, reliability or completeness of material on this website nor accepts any liability or responsibility for any acts or decisions based on such information.

Resolution Life can be contacted at resolutionlife.co.nz/contact-us or by calling 0800 808 267.